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Hi Everyone,
I'm purchasing a home in Orange County NY. It's a brand new contruction townhouse, and I've already received the pre-approval, signed the contracts and work order for options, and my file is currently in underwritting. I just received a letter from the builder asking me to forward a copy of the contract to my attorney, and forward my attorney information back to them. I dont have an attorney for this transaction.
Can anyone here advise me on what the attorney does, If there is anything In particular I should look for, and how much of a fee I can expect to pay?
Thanks again to all the members of this forum. There isn't any better or more helpful information on any other internet site.
An attorney will be the wisest investment "safeguard" you can hire for your home purchase.
Here in NJ, attorneys are practically REQUIRED
They police the whole transaction - contract back and forth, terms and conditions between seller and buyer
They hire a title agency, search, survey, and keep in touch with mtg broker/banker/lender to structure your closing around the lenders' requirements..
They also review each step with you and are working on YOUR behalf only.
Now the trick is to find a good, reputable attorney as most real estate attorneys are too 'laid back' after doing repetitous things in each transaction (picking the same agency for title search, survey and same contract 'riders')
@samwise7 wrote:
Thanks, I agree finding a good one is what I need to do, should I just go on recommendation?
If you know of anyone who has recently used one, and they were happy with the services provided then defintely do that.
While I am not yet preapproved a coworker is giving me the name of an attorney to use for my purchase. He and his wife used this attorney, and while it was his wife who picked up on the problem with their contract first, she is also an attorney, they were very happy with the results of this attorney. So I will be calling him when the time comes. I was actually asking my coworker about using her, since she's an attorney, but she's not a real estate attorney and she missed things that the other attorney didn't.